Prudential Financial, Inc. (NYSE:PRU – Get Free Report) SVP Robert Boyle sold 2,794 shares of Prudential Financial stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $121.24, for a total value of $338,744.56. Following the completion of the sale, the senior vice president directly owned 6,008 shares of the company’s stock, valued at approximately $728,409.92. This trade represents a 31.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Prudential Financial Stock Performance
Prudential Financial stock traded up $1.33 during midday trading on Tuesday, reaching $123.38. The stock had a trading volume of 1,555,308 shares, compared to its average volume of 2,018,990. The firm has a market capitalization of $42.56 billion, a PE ratio of 11.23, a P/E/G ratio of 2.12 and a beta of 0.85. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $128.78. The company has a quick ratio of 0.16, a current ratio of 0.17 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $117.03 and its 200 day moving average price is $109.03.
Prudential Financial (NYSE:PRU – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.44. The firm had revenue of $14.45 billion during the quarter, compared to analyst estimates of $14.66 billion. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. During the same quarter last year, the business earned $4.26 earnings per share. As a group, research analysts predict that Prudential Financial, Inc. will post 13.54 earnings per share for the current fiscal year.
Analyst Ratings Changes
PRU has been the topic of a number of recent research reports. Evercore dropped their price target on shares of Prudential Financial from $110.00 to $106.00 in a research note on Friday, October 9th. Mizuho set a $108.00 price objective on shares of Prudential Financial in a research note on Monday, October 12th. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, October 22nd. TD Cowen dropped their target price on Prudential Financial from $114.00 to $112.00 and set a “hold” rating on the stock in a research report on Wednesday, October 21st. Finally, Wells Fargo & Company dropped their target price on Prudential Financial from $104.00 to $103.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $112.40.
Get Our Latest Stock Analysis on Prudential Financial
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Archer Investment Corp bought a new stake in Prudential Financial in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. grew its position in Prudential Financial by 164.7% during the third quarter. Meeder Asset Management Inc. now owns 225 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 140 shares during the last quarter. Team Financial Group LLC bought a new position in Prudential Financial during the third quarter valued at approximately $27,000. Heritage Family Offices LLP bought a new position in Prudential Financial during the third quarter valued at approximately $33,000. Finally, MADDEN SECURITIES Corp purchased a new position in shares of Prudential Financial during the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.
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